For Immediate Release
Office of the Press Secretary
September 24, 2001

Executive Order on Terrorist Financing
Blocking Property and Prohibiting Transactions With
Persons Who Commit, Threaten to Commit, or Support Terrorism

By the authority vested in me as President by the Constitution and the laws of the United States of America, including the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.)(IEEPA), the National Emergencies Act (50 U.S.C. 1601 et seq.), section 5 of the United Nations Participation Act of 1945, as amended (22 U.S.C. 287c) (UNPA), and section 301 of title 3, United States Code, and in view of United Nations Security Council Resolution (UNSCR) 1214 of December 8, 1998, UNSCR 1267 of October 15, 1999, UNSCR 1333 of December 19, 2000, and the multilateral sanctions contained therein, and UNSCR 1363 of July 30, 2001, establishing a mechanism to monitor the implementation of UNSCR 1333,

I, GEORGE W. BUSH, President of the United States of America, find that grave acts of terrorism and threats of terrorism committed by foreign terrorists, including the terrorist attacks in New York, Pennsylvania, and the Pentagon committed on September 11, 2001, acts recognized and condemned in UNSCR 1368 of September 12, 2001, and UNSCR 1269 of October 19, 1999, and the continuing and immediate threat of further attacks on United States nationals or the United States constitute an unusual and extraordinary threat to the national security, foreign policy, and economy of the United States, and in furtherance of my proclamation of September 14, 2001, Declaration of National Emergency by Reason of Certain Terrorist Attacks, hereby declare a national emergency to deal with that threat. I also find that because of the pervasiveness and expansiveness of the financial foundation of foreign terrorists, financial sanctions may be appropriate for those foreign persons that support or otherwise associate with these foreign terrorists. I also find that a need exists for further consultation and cooperation with, and sharing of information by, United States and foreign financial institutions as an additional tool to enable the United States to combat the financing of terrorism.

I hereby order:

Section 1. Except to the extent
required by section 203(b) of IEEPA (50 U.S.C. 1702(b)), or provided in
regulations, orders, directives, or licenses that may be issued
pursuant to this order, and notwithstanding any contract entered into
or any license or permit granted prior to the effective date of this
order, all property and interests in property of the following persons
that are in the United States or that hereafter come within the United
States, or that hereafter come within the possession or control of
United States persons are blocked:

(a) foreign persons listed in the Annex to
this order;

(b) foreign persons determined by the
Secretary of State, in consultation with the Secretary of the Treasury
and the Attorney General, to have committed, or to pose a significant
risk of committing, acts of terrorism that threaten the security of
U.S. nationals or the national security, foreign policy, or economy of
the United States;

(c) persons determined by the Secretary of
the Treasury, in consultation with the Secretary of State and the
Attorney General, to be owned or controlled by, or to act for or on
behalf of those persons listed in the Annex to this order or those
persons determined to be subject to subsection 1(b), 1(c), or 1(d)(i)
of this order;

(d) except as provided in section 5 of
this order and after such consultation, if any, with foreign
authorities as the Secretary of State, in consultation with the
Secretary of the Treasury and the Attorney General, deems appropriate
in the exercise of his discretion, persons determined by the Secretary
of the Treasury, in consultation with the Secretary of State and the
Attorney General;

(i) to
assist in, sponsor, or provide financial, material, or technological
support for, or financial or other services to or in support of, such
acts of terrorism or those persons listed in the Annex to this order or
determined to be subject to this order; or

(ii)
to be otherwise associated with those persons listed in the Annex to
this order or those persons determined to be subject to subsection
1(b), 1(c), or 1(d)(i) of this order.

Sec. 2. Except to the extent
required by section 203(b) of IEEPA (50 U.S.C. 1702(b)), or provided in
regulations, orders, directives, or licenses that may be issued
pursuant to this order, and notwithstanding any contract entered into
or any license or permit granted prior to the effective date:

(a) any transaction or dealing by United
States persons or within the United States in property or interests in
property blocked pursuant to this order is prohibited, including but
not limited to the making or receiving of any contribution of funds,
goods, or services to or for the benefit of those persons listed in the
Annex to this order or determined to be subject to this order;

(b) any transaction by any United States
person or within the United States that evades or avoids, or has the
purpose of evading or avoiding, or attempts to violate, any of the
prohibitions set forth in this order is prohibited; and

(c) any conspiracy formed to violate any
of the prohibitions set forth in this order is prohibited.

Sec. 3. For purposes of this
order:

(a) the term "person" means an individual
or entity;

(b) the term "entity" means a partnership,
association, corporation, or other organization, group, or subgroup;

(c) the term "United States person" means
any United States citizen, permanent resident alien, entity organized
under the laws of the United States (including foreign branches), or
any person in the United States; and

(d) the term "terrorism" means an activity
that --

(i)
involves a violent act or an act dangerous to human life, property, or
infrastructure; and

(ii)
appears to be intended --

(A) to intimidate or coerce a civilian population;

(B) to influence the policy of a government by intimidation or
coercion; or

(C) to affect the conduct of a government by mass destruction,
assassination, kidnapping, or hostage-taking.

Sec. 4. I hereby determine that
the making of donations of the type specified in section 203(b)(2) of
IEEPA (50 U.S.C. 1702(b)(2)) by United States persons to persons
determined to be subject to this order would seriously impair my
ability to deal with the national emergency declared in this order, and
would endanger Armed Forces of the United States that are in a
situation where imminent involvement in hostilities is clearly
indicated by the circumstances, and hereby prohibit such donations as
provided by section 1 of this order. Furthermore, I hereby
determine that the Trade Sanctions Reform and Export Enhancement Act of
2000 (title IX, Public Law 106-387) shall not affect the imposition or
the continuation of the imposition of any unilateral agricultural
sanction or unilateral medical sanction on any person determined to be
subject to this order because imminent involvement of the Armed Forces
of the United States in hostilities is clearly indicated by the
circumstances.

Sec. 5. With respect to those
persons designated pursuant to subsection 1(d) of this order, the
Secretary of the Treasury, in the exercise of his discretion and in
consultation with the Secretary of State and the Attorney General, may
take such other actions than the complete blocking of property or
interests in property as the President is authorized to take under
IEEPA and UNPA if the Secretary of the Treasury, in consultation with
the Secretary of State and the Attorney General, deems such other
actions to be consistent with the national interests of the United
States, considering such factors as he deems appropriate.

Sec. 6. The Secretary of State,
the Secretary of the Treasury, and other appropriate agencies shall
make all relevant efforts to cooperate and coordinate with other
countries, including through technical assistance, as well as bilateral
and multilateral agreements and arrangements, to achieve the objectives
of this order, including the prevention and suppression of acts of
terrorism, the denial of financing and financial services to terrorists
and terrorist organizations, and the sharing of intelligence about
funding activities in support of terrorism.

Sec. 7. The Secretary of the
Treasury, in consultation with the Secretary of State and the Attorney
General, is hereby authorized to take such actions, including the
promulgation of rules and regulations, and to employ all powers granted
to the President by IEEPA and UNPA as may be necessary to carry out the
purposes of this order. The Secretary of the Treasury may
redelegate any of these functions to other officers and agencies of the
United States Government. All agencies of the United States
Government are hereby directed to take all appropriate measures within
their authority to carry out the provisions of this order.

Sec. 8. Nothing in this order
is intended to affect the continued effectiveness of any rules,
regulations, orders, licenses, or other forms of administrative action
issued, taken, or continued in effect heretofore or hereafter under 31
C.F.R. chapter V, except as expressly terminated, modified, or
suspended by or pursuant to this order.

Sec. 9. Nothing contained in
this order is intended to create, nor does it create, any right,
benefit, or privilege, substantive or procedural, enforceable at law by
a party against the United States, its agencies, officers, employees or
any other person.

Sec. 10. For those persons
listed in the Annex to this order or determined to be subject to this
order who might have a constitutional presence in the United States, I
find that because of the ability to transfer funds or assets
instantaneously, prior notice to such persons of measures to be taken
pursuant to this order would render these measures
ineffectual. I therefore determine that for these measures
to be effective in addressing the national emergency declared in this
order, there need be no prior notice of a listing or determination made
pursuant to this order.

Sec. 11. (a) This order is
effective at 12:01 a.m. eastern daylight time on September 24, 2001.

(b) This order shall be transmitted to the
Congress and published in the Federal Register.